REG-Zentra Group plc Zentra Group plc: Lending Facility and Update on Release of FY Results

ZentraAnnouncement

29/10/2024 07:15

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   Zentra Group plc (ZNT)
   Zentra Group plc: Lending Facility and Update on Release of FY Results

   29-Oct-2024 / 07:00 GMT/BST

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   29 October 2024

    

              Zentra Group PLC (previously One Heritage Group PLC)

                                (“the Company”)

                   Lending Facility and Release of FY Results

                                        

   Zentra  Group  (the  “Company”)  is  pleased  to  announce  that  it   has
   successfully secured  a  £1.6  million debt  facility,  which  is  secured
   against the  properties  at Bank  Street,  Sheffield, and  Lincoln  House,
   Bolton.

   As announced on 2 October 2024, the Company has unconditionally  exchanged
   contracts  on   several   transactions,   including  the   sale   of   the
   aforementioned properties, with completion scheduled for 29 October  2024.
   The completion date may be extended or brought forward by mutual agreement
   between the parties, with  a long stop date  of 8 November 2024.  Proceeds
   from the debt facility  will be attributed to  these assets and will  form
   part of the sale schedule.

   Further to the refinance of the Company’s existing loan facility, as  also
   announced  on  2  October  2024,   the  Company  is  pleased  to   confirm
   improvements to the terms.  These enhancements allow  the Company to  draw
   down an additional £1 million for  working capital purposes over the  next
   18 months, if required, to  support the Company’s short-term needs  whilst
   property sales are completed.

   This increased flexibility, together with  the securing of the  facilities
   noted  above,  underscores  the  commitment  of  the  Company's   majority
   shareholder to  provide  support,  ensuring the  Company  can  pursue  its
   strategy effectively.

   The Company also expects to announce its annual results before 31  October
   2024.

   Further updates will be provided in due course.

    

   Contacts

    

   Zentra Group plc

   Jason Upton

   Chief Executive Officer

   Email: jason.upton@zentragroup.co.uk

    

   Robert Holbrook

   Head of Finance

   Email: robert.holbrook@zentragroup.co.uk

    

   Hybridan LLP (Financial Adviser and Broker)

   Claire Louise Noyce

   Email : claire.noyce@hybridan.com

   Tel: +44 (0)203 764 2341

    

   About Zentra Group PLC

   Zentra Group  PLC  (previously  One  Heritage Group  PLC)  is  a  property
   development and management Company. It  focuses on the residential  sector
   primarily in  the  North of  England,  seeking out  value  and  maximising
   opportunities for investors.

   The Company is  listed on  the Standard  List of  the Main  Market of  the
   London Stock Exchange, trading under the ticker ZNT. 

   For   further   information,   please   visit   the   Company’s    website
   at  1 www.zentragroup.co.uk The previous website  2 www.oneheritageplc.com
   will automatically redirect to the new website.

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           GB00BLF79495
   Category Code:  MSCH
   TIDM:           ZNT
   LEI Code:       2138008ZZUCCE4UZHY23
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   355580
   EQS News ID:    2017527


    
   End of Announcement EQS News Service

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